Putin: 25% of Russian gas supplies to Turkey will be paid for in roubles
Russian President Vladimir Putin said on Friday that 25% of Russian gas supplies to Turkey would be paid for in roubles, and that an agreement on this would come into force ...
IC Ictas recovers Russia deal to build Turkish nuclear plant -sources
Turkish contractor IC Ictas re-captured a deal to build a $20-billion nuclear power plant run by Russia’s Rosatom at Akkuyu in southern Turkey, two sources with information on the ...
France to make formal EDF buyout offer by end of month -sources
The French government is now expected to launch its takeover of EDF by the end of September after a slight delay due to the complexity of clearing the offer price, ...
Oil prices and financial markets brace for recession
US economic data remains strong but a range of financial indicators point to a sharp slowdown over the next year that would dampen oil consumption and lead to lower prices.
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Oil ticks up, but on track for weekly loss on recession fears
Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand.
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Germany takes control of Russian-owned refinery amid energy crisis
The German subsidiary of Russian oil giant Rosneft (ROSN.MM) was placed under trusteeship on Friday, giving Germany’s federal regulator control of the PCK refinery in Schwedt, a key ...
Oil falls on demand concerns, strong dollar
Oil fell on Thursday as expectations of weaker demand and a strong US dollar ahead of a potentially large interest rate increase outweighed supply concerns.
The International Energy Agency said ...
Europe needs China’s diesel if it does cut off Russia imports
By Clyde Russell
If Europe is serious about ending all imports of Russian crude oil and refined fuels by early next year, the key to success lies in Asia, and ...
Oil prices inch lower on prospect of rising US interest rates
Oil prices inched lower on Wednesday on concerns of another US Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust ...
Oil prices rise on concerns over tight supplies
Oil prices rose in volatile trade on Tuesday as worries about tight fuel supplies ahead of winter offset investor concerns about lower demand in China, the world’s biggest crude ...
Oil prices drop amid China COVID curbs, possible rate hikes
Oil prices fell on Monday with the global fuel demand outlook overshadowed by COVID-19 restrictions in China and the potential for further interest rate hikes in the United States and ...
Energy: difficult choices for the EU
It is time for Cyprus to move from words to action
As we approach winter the global energy crisis is getting worse and worse. It has shifted from a situation ...
Saudi Arabia: reducing dependency on mineral wealth
By Andreas Charalambous and Omiros Pissarides
Saudi Arabia has traditionally based its policies on exploiting its natural wealth. Its government/administrative structure rests on the power of the Saud family ...
Pilides extols role of Cyprus in EU energy security, EU commissioner due to visit
Energy Minister Natasa Pilides announced the upcoming visit of the Energy Commissioner Kadri Simson, in a statement after the conclusion of the extraordinary meeting of energy ministers in Brussels on ...
Oil supported by supply threats, but heads for weekly drop on demand fears
Oil prices rose on Friday as investors considered Russia’s threat to halt oil and gas exports to some buyers, but crude was set for a second weekly decline as ...
Oil prices climb on tight supply worries
Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia ...
Britain borrows big again to ease energy shock
Britain’s new leader Liz Truss capped soaring consumer power bills for two years on Thursday in a package to limit the economic shock of war in Ukraine that could ...
Oil slides to 7-mth low on renewed demand fears, rate hike expectations
Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes ...
Eni official’s comments on EastMed pipeline misunderstood – energy ministry
A correction was issued on Wednesday to an earlier Reuters report quoting Italian gas giant Eni’s chief operating officer (COO) as saying that the EastMed pipeline would be fully ...
OPEC+ seems to want $90 crude oil. It may end up defending $50: Russell
By Clyde Russell
It’s tempting to dismiss the decision by the OPEC+ group to cut crude oil production by 100,000 barrels per day (bpd) in October as a statistical insignificance ...
EastMed pipeline to be completed by 2025
The EastMed pipeline will be fully completed by 2025, ENI Chief Operating Officer Guido Brusco said on Tuesday during an event in Milan, Italy.
The EastMed is a subsea pipeline designed ...
Oil prices inch lower on symbolic OPEC+ output cut
Oil prices edged lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely ...
OPEC+ agrees small oil production cut
OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown.
The oil producers ...
Consumer group slams government for slow solutions to face cost of living crisis
The island’s consumer and quality of life association on Monday criticised the government for failing to act decisively in an effort to ease the burden of the rapidly rising ...